Noor Trends News, Technical Analysis, Educational Tools and Recommendations

March, 2021

• 24 March 2021 7:57 pm

  DXY Maintains Gains as Treasury Yields Continue to Rise

  

  The U.S. Dollar (USD) continued an upward trend on Wednesday, supported by the rise in Treasury bond yields. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.15% at 92.48. The index has been fluctuating today in a range …

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• 24 March 2021 6:17 pm

  US: Markit Manufacturing PMI Edges Higher in March

  

  The IHS Markit’s Manufacturing PMI edged higher to 59 in March from 58.6 in February, revealing that the business activity in the manufacturing sector continued to expand at a robust pace. This reading came in slightly lower than the market expectation of 59.3.

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• 24 March 2021 5:33 pm

  US: Durable Goods Orders Decline in February

  

  Durable Goods Orders in the United States declined by 1.1%, or $2.9 billion, in February to $254 billion, the data published by the US Census Bureau showed on Wednesday. This reading followed January’s increase of 3.5% and missed the market expectation of +0.8%.

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• 24 March 2021 4:59 pm

  Currencies Overview: The Dollar Reaches a 4-Month High on Fears of European Lockdowns And a US Tax Hike

  

  The dollar hit a four-month high on Wednesday, March 24, as concerns about a third wave of the Covid-19 pandemic in Europe, the prospect of a tax hike in the United States, and mounting tension between the West and China weighed on risk appetite. The dollar index rose to a …

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• 24 March 2021 4:18 pm

  The Eurozone Economy Returns to Growth in March With Factory Activity

  

  A preliminary survey showed a sudden return to economic activity in the euro area to grow this month, as factories increased their production to the fastest pace in more than 23 years, offsetting a continuing slowdown in the region’s dominant service sector. But the final reading of the survey and …

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• 24 March 2021 3:37 pm

  Germany Approves an Additional Budget That Includes a New Record Borrowing

  

  An official said that the government of German Chancellor Angela Merkel approved a debt-financed supplementary budget of 60 billion euros, 71 billion dollars, which raises the new borrowing to a record level exceeding 240 billion euros this year. The revised budget highlights Berlin’s willingness to continue huge borrowing-financed spending during …

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• 24 March 2021 2:49 pm

  Oil Prices Rebound by About 3% After a Container Ship Stranded in The Egyptian Suez Canal

  

  Oil prices rose in today’s trading by about 3% after a container ship ran aground in the Egyptian Suez Canal and other ships accumulated inside the canal. Brent crude prices rose by about 3% to $62.7 a barrel, and Texas crude prices rose by more than 3% to about $59 …

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• 24 March 2021 2:19 pm

  UK Preliminary Manufacturing PMI Beats Estimates in March

  

  The UK manufacturing and services sector activities continue to improve in March, the preliminary report from IHS Markit showed this Wednesday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) jumped to 40-month highs of 57.9 in March versus 55.0 expected and 55.1 – February’s final reading.

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• 24 March 2021 1:24 pm

  Britain’s Inflation Fell Unexpectedly to 0.4% in February

  

  Official figures showed that UK consumer price inflation fell to 0.4% in February from 0.7% in January, reflecting unusual patterns of discounts on clothing. This came against expectations in a Reuters poll for a rise to 0.8%.

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• 24 March 2021 1:20 pm

  Gold Rises as US Bond Yields Drop Despite The Dollar’s Rise

  

  Gold prices rose on Wednesday, March 24th, as US Treasury yields stabilized near their lowest level in a week, while the metal ignored the dollar’s ​​rise in the wake of the US Federal Reserve’s assertion that the inflation rate will not get out of control. Gold rose in the spot …

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• 24 March 2021 1:05 pm

  The Turkish Lira Rises by More Than 1% And Compensates For Some of Its Losses

  

  The Turkish lira rose more than 1% on Wednesday, March 24, to offset some of the losses it incurred after President Recep Tayyip Erdogan’s surprise decision at the weekend to change the central bank governor to the last opponent of tightening fiscal policy. The lira reached 7.8650 dollars against the …

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• 24 March 2021 12:29 pm

  Elon Musk Announces on Twitter That it is Possible to Purchase Tesla Cars Using Bitcoin

  

  Elon Musk announced, through his Twitter account, that his company accepted Bitcoin in exchange for buying cars produced by the company, which led to a rise in Bitcoin prices by more than 3%. The CEO of Tesla added that the Bitcoin purchase will be available to customers from outside America …

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• 24 March 2021 3:36 am

  Yellen: No Plans to Lengthen Treasury Bond Maturities

  

  The United States government does not plan to prolong the maturity of its debt instruments, said the U.S. Treasury Secretary Janet Yellen. Last year, the average maturity of Treasury bonds declined as the Trump administration amid an increased dependence on short-term notes. “Treasury has been looking at this question and …

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